UBS, Credit Suisse pension funds progress towards CHF50bn consolidation
Swiss pension funds advance integration plans that could bring nearly CHF50bn under one pension institution
AP2 picks Nordea banking leader to fill CEO Halvarsson’s shoes next June
Gothenburg-based national pensions buffer fund says Patrik Svensson has ‘experience, expertise and leadership qualities’ needed to lead fund onwards
FCA to exclude performance fees amid UK’s growing focus on Value for Money
Proposed charge cap exemption could boost defined contribution private markets allocations, but providers face governance scrutiny
People moves: Jupiter Asset Management picks co-heads
The firm has also recruited for the new role of chief strategy officer
UK pension consolidation puts trustee independence under scrutiny
Industry welcomes UK governance reforms but warns pension consolidation threatens trustee independence and effective oversight
German pension providers brace for private savings competition
Occupational pension providers face growing competition for retirement savings as private pension reforms reshape Germany’s market
Standard Life appoints Invesco to manage £2.5bn active equity mandates
The new mandates build on an existing relationship under which Invesco already manages more than £6bn in UK equities on behalf of Standard Life
Ocean shocks pose systemic risk to pension schemes, actuaries warn
Institute and Faculty of Actuaries warns ocean disruption could simultaneously undermine pension investment returns, increase liabilities and weaken covenants
Cyber attack prompts Swiss pension funds to review software ties
Swiss pension funds review cyber security and software relationships following attack, with Zurich halting implementation
Norway’s SWF hails $224.5m deal as ‘important first step’ in recouping failed bank losses
NBIM and Sweden’s AP7 claim a victory as leads in Silicon Valley Bank class action
Covenant focus key as UK superfund market expands, says LCP
As superfund activity gathers pace, trustees are urged to assess covenant strength and engage regulators early
Dutch pensions lobby targets self-employment bill over retirement savings gap
Pensioenfederatie argues vague phrasing should be tightened up to get entrepreneurs under occupational pensions umbrella
BVK offices searched in German corruption probe into US property investments
Bavarian pension fund undergoes office raid that deepens probe into alleged corruption over seven US property projects involving Deutsche Finance Group
AkademikerPension rapped for documentation failures around alternatives
Danish FSA deals pension fund eight official orders to correct procedures; Akademiker says orders don’t imply members’ savings are at risk
Pension investors face questions over political activity of US companies
Investors should distinguish between companies’ political activities and the private donations of their owners or employees
UK pensions guidance puts climate and nature risks in focus for trustees
DWP draft guidance highlights climate, nature and systemic risks as financially material considerations in pension investment decisions
UK consults on guidance clarifying pension trustees’ fiduciary duties
DWP guidance aims to clarify how trustees assess financially material factors when making investment decisions
SH Pension under investigation as portfolio remains skewed to unlisted assets
Finansinspektionen opens probe into whether the Swedish occupational pension provider meets requirement for investments to be primarily in regulated markets
NZAOA reports lower portfolio carbon intensity but higher financed emissions
Asset owners report lower equity and bond carbon intensity, but expanded private market reporting pushes financed emissions higher
People moves: LGPS Central adds to board with director duo
The UK-based investment pool has appointed Bronte Somes and Kavita Patel as non-executive directors
DC providers warn against rushing into UK productive assets
NEST says investment decisions should be driven by future expected returns rather than a desire to meet a particular target
Deutsche Finance offices raided in connection with BVK’s US real estate investments
The German asset manager was searched in the capacity of a “third party”
TPR finds only 27% of small schemes have formal governance arrangements in place
The Pension Regulator’s findings highlight a significant governance gap between smaller and larger schemes
Previndai appoints former Fon.Te. director as general manager
Anna Maria Selvaggio joins the €16bn Italian fund after almost a decade leading Fon.Te
UK defined contribution schemes face greater responsibility for retirement incomes
The government wants DC schemes to take greater responsibility for retirement income, with new defaults and collective pension options
NBIM urges EU reporting changes to prevent duplicate sustainability disclosures
Norway’s sovereign wealth fund manager wants non-EU groups to reuse existing ISSB disclosures under proposed EU rules
Swiss pension regulation risks stifling competition and innovation
Rising regulatory costs are accelerating consolidation among Swiss pension funds, while raising concerns about competition and innovation
UK watchdog sets new rules for ESG ratings providers
New FCA rules will require ESG ratings providers to meet transparency and governance standards before seeking authorisation
BlackRock targets DC retirement risk with protected equity fund
New fund combines global equities and options-based protection to help UK pension schemes manage retirement sequencing risk
LPPI brings three teams under one portfolio group
The £60bn local government pension scheme investment pool brings portfolio management, investment strategy and responsible investment together
United Glass Pension Plan completes £240m buy-in deal with L&G
The transaction secures benefits for 1,700 members, with existing L&G-managed investments funding the full insurance premium
Scottish Widows brings UK venture capital into workplace pensions
The UK venture growth portfolio sits within CG Scottish Widows Growth LTAF
Italian pension funds reshape investment options as reforms take effect
New rules are driving membership growth, life-cycle investment strategies and more flexible retirement options across Italy’s supplementary pension system
TPR flags pension trustee oversight gaps as AI adoption grows
Growing AI adoption exposes gaps in pension scheme oversight, prompting fresh regulatory guidance on trustee accountability and governance
PME forecasts 12.6% pension increase on transfer to Dutch system
Rising interest rates have strengthened the Dutch metal sector fund’s financial position despite negative third-quarter investment returns
UK to legislate on pension consolidation and retirement income reforms
Legislation will support defined contribution consolidation, guided retirement and retirement collective DC, including changes to member protections and transfers
New Italian pension fund targets 1.6 million professionals
FondoPro expands beyond healthcare to attract professionals affiliated with Italy’s first-pillar pension funds and grow assets
EIOPA warns of bond volatility and private credit risks for pension funds
Stronger pension funding offers resilience as EIOPA warns of elevated market, credit and cyber risks
People moves: Alecta names head of asset management
Plus: LGT Capital Partners appoints CEO; TPT Investment Management picks CIO
German lawyers’ pension funds merge to create €3bn institution
A merger between two German lawyers’ pension funds highlights growing pressure for scale, stronger governance and closer cooperation
UK government pledges full pension surpluses to former mineworkers
UK Budget changes will give members of two coal industry pension schemes the full benefit of investment surpluses
UK commits extra £20.4bn to public investment institutions
British Business Bank and National Wealth Fund receive extra boost for private investment, to support businesses and drive UK growth
Finns lean into equities as reform loosens the reins
Finland’s Veritas, Elo, Varma and Ilmarinen have seen equity returns in double digits for Q3
Royal Mail transfers £2.45bn DC master trusts to L&G
The transfer represents the largest complete transition into a UK defined contribution master trust to date
M&G launches run-on solution for DB pension schemes with £400m deal
The mandate is the first for this solution and reflects a growing interest by UK defined benefit pension funds in run-on strategies
German church pension funds appoint internal candidate as CIO
Katharina Grisar will succeed retiring CIO Wolfram Gerdes in March 2027, continuing the German funds’ investment strategy
Standard Life enters Irish pension risk transfer market
The insurer will offer scheme trustees and advisers the structural flexibility required to execute full-scheme de-risking and final endgame strategies effectively
Aviva Investors expands tokenised money market fund offering
Asset manager expands its tokenised fund range with a new sterling share class and £50m initial investment
IORP II review: EU Parliament rejects 2% VC rule for pensions
MEPs reject 2% VC allocation requirement as Commission bids to remove national quantitative limits to encourage greater investment into European innovation
City of Westminster stalls on London CIV responsible investment choice
The City of Westminster Pension Fund seeks clarity on defence exclusions and human rights standards before choosing a London CIV responsible investment pillar
